Palladium extended gains after the suspension of two state-owned Russian refiners by bourses in London and Chicago added to concerns about supply disruptions from a key producing country.
The precious metal’s latest rise, following an 8.7% surge on Friday, comes after the invasion of Ukraine and the sanctions that followed saw prices soar to a record last month. Russia produces about 40% of the world’s freshly mined palladium, which is mostly used in automobile catalytic converters.
